Paytm partners with Axis Bank to provide payment solutions for merchants
Paytm, has partnered with Axis Bank to offer point-of-sale (PoS) solutions and Electronic Data Capture (EDS) machines to the bank and its merchant network.
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This development comes months after the troubled fintech firm shifted its nodal account to Axis Bank to facilitate merchant payments, amid regulatory scrutiny by the Reserve Bank of India.
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Offering CollegeCourseWebsiteMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitThe partnership will enable Paytm to expand its presence by reaching a broader merchant base through Axis Bank. At the same time, it will enhance the latter’s merchant acquiring portfolio by improving transaction efficiency, according to a statement released on Tuesday.
“We are happy to support Paytm in the EDC business. This partnership enables us to extend our relevant business offerings to a larger base of merchants and this is an exciting milestone to build upon," said Sanjeev Moghe, president and head, Cards and Payments at Axis Bank.
Paytm’s EDC devices offer features like inventory management, invoice generation, promotions and discounts, sales tracking and reporting, customer relationship management, among others. The PoS solutions will help merchants manage their
